A Sri Lankan minister has said that talks between Sri Lanka and India for the latter to acquire a controlling stake in the Mattala Rajapaksa International Airport are “progressing”, contrary to comments made by Indian Minister of State for Civil Aviation who had said there was no such proposal last week.
According to The Hindu, the two governments have agreed that India will contribute $225 million to revamp and run the airport, for a 70% stake, while Sri Lanka will invest the balance.
The draft agreement states that India will operate the airport on a 40-year lease The Hindu quotes a Transport and Civil Aviation Ministry official as saying.